ECON 351 Chapter Notes - Chapter 6: Limited Liability, January Effect, S&P 500 Index

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21 Feb 2014
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Chapter 6: stock market, information, financial market efficiency. Sole proprietors sole owners of a firm and people who own a firm with partners have unlimited liability for the firm"s debts. The owners of these firms run the risk that if the firm goes bankrupt; anyone the firm owes money to can sue the owners for their personal assets. Corporation a legal form of business that provides owners with protection from losing more than their investment if the business fails. Limited liability a legal provision that shields owners of a corporation from losing more than they have invested in the firm. Stock market index an average of stock prices that is used to measure the overall: s&p 500, dow jones industrial average. Average of the prices of the stocks of just 30 large firms. Includes the 30 stocks that are in the dow as well as stocks issued by 470 other performance of the stock market.

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